Partnership will enable Nigerians to leverage their home country credit profile when applying for a Vesti Card upon arrival to the U.S.
Today Nova Credit, the world’s leading consumer-permissioned credit bureau, announced a partnership with Vesti, the finance app focused on alleviating barriers for Nigerians moving to the United States. The partnership will allow Vesti to leverage Nova Credit’s Credit Passport® to help approve more Nigerian newcomers for the new Vesti Card, which will provide a stepping stone for users to start building a U.S. credit profile upon arrival.
For more than half of recent U.S. immigrants, a top priority upon arrival is securing a credit card, according to a survey commissioned by Nova Credit. With more than 400,000 Nigerian-born immigrants in the U.S. today, many newcomers will face the same need for a line of credit upon arrival. Unfortunately, since credit profiles do not travel across borders, getting approved for a credit card as a newcomer is very challenging.
The Vesti Card helps tackle the challenges that Nigerian immigrants, who are new to the U.S., face by providing them with financial solutions that makes their relocation easier. With the support of Credit Passport®, a cross-border credit solution giving lenders access to consumer-permissioned credit data on new-to-country consumers, Vesti will gain access to the home country credit profiles of Nigerian immigrants, allowing them to evaluate and approve prospective card members even faster.
“Simplifying financial services for immigrants is at the core of our mission at Vesti,” said Olu Amusan, co-founder and CEO of Vesti. “With a similar mission of accelerating financial inclusion for underserved communities, we are super excited to work with Nova Credit to bring our missions to life for the betterment of Nigerian immigrants.”
“Vesti is doing some commendable work for the Nigerian and broader immigrant population, so the opportunity to partner with them was a clear next step for us,” said Misha Esipov, co-founder and CEO of Nova Credit. “With Credit Passport®, Vesti will now have access to the credit profiles of the thousands of Nigerian immigrants who seek opportunities in the United States each year, and even more new-to-country Nigerians will have the chance to start their life in the U.S. on stable financial footing thanks to the Vesti Card.”
To learn more about the Credit Passport®, visit: www.novacredit.com/business/credit-passport or reach out directly to connect@novacredit.com.
To inquire about a Vesti Card, visit: app.wevesti.com/creditcard
ABOUT NOVA CREDIT
Nova Credit is on a mission to accelerate financial inclusion and help underserved communities gain access to better credit options. The consumer-permissioned credit bureau helps U.S. newcomers to use their international credit history to apply for credit cards, auto loans, rental properties, and more with the Credit Passport®. Through this offering, the company has built partnerships in over 20 countries to gain consumer-permissioned access to over 1.1 billion credit profiles. Today, Nova Credit has expanded to serve all who feel discouraged by the current financial system with its latest offering, Cash Atlas™. The company partners with financial services and tenant screening companies like American Express, Verizon, MPOWER, SoFi, and Yardi. Founded by immigrants, Nova Credit has offices in San Francisco and New York City, and is backed by leading investors including Kleiner Perkins, General Catalyst, and Index Ventures, as well as executives from Goldman Sachs, JPMorgan, and Citi. Learn more at www.novacredit.com
ABOUT VESTI
Vesti’s vision is to be the go-to financial services platform for the next 1 billion immigrants. The company is on a mission to be the preferred platform for immigrants before they emigrate, providing information, community and ultimately a smooth transition to immigrants. Through a set of tailored payment products, Vesti delivers hassle free guidance and financial services to immigrants moving to the United States and other top destinations in North America and Europe. Founded by two brothers who immigrated to the United States, the company is backed by both Africa and U.S. based investors and boasts of a thriving community of dreamers who represent the next generation of builders.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220830005366/en/
Contacts
Rachel Levy
V2 Communications on behalf of Nova Credit
novacredit@v2comms.com
